ANIKET SINGAL,NEW DELHI vs. DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1, CHANDIGARH

In the result, all the above appeals are allowed

Bench: SHRI. RAJPAL YADAV (Vice President), SHRI. KRINWANT SAHAY, AM आयकर अपील सं. / ITA No. 939/Chd/2025 निर्धारण वर्ष / Assessment Year : 2016-17 Shri Aniket Singal बनाम The DCIT 4, Amritashergil Marg, New Delhi- 110003 Central Circle-1 Chandigarh स्थायी लेखा सं./ PAN NO: CZCPS6126E अपीलार्थी/Appellant प्रत्यर्थी / Respondent आयकर अपील सं. / ITA No. 1145/Chd/2025 निर्धारण वर्ष / Assessment Year : 2017-18 Smt. Aarti Singal बनाम The DCIT 53, Jor Bagh, New Delhi-110003 Central Circle-1 Chandigarh स

penny-stock prices is a continuing pattern. The appellant assets that such statements were neither confronted nor cross-examination offered. Two answers: first, the addition here does not rest solely on third-party statements; it rests primarily on the appellant’s own failure to discharge the section 68

SMT. AARTI SINGAL,CHANDIGARH vs. DCIT, CC-1, CHANDIGARH

penny stock companies as sham transaction undertaken through a syndicate of entry providers, the onus cast on the assessee doubles under section 68

SH. SANJAY SINGAL,CHANDIGARH vs. DCIT, CC-1, CHANDIGARH

penny stock companies as sham transaction undertaken through a syndicate of entry providers, the onus cast on the assessee doubles under section 68

SH. SANJAY SINGAL,CHANDIGARH vs. DCIT, CC-1, CHANDIGARH

penny stock companies as sham transaction undertaken through a syndicate of entry providers, the onus cast on the assessee doubles under section 68

SH. SANJAY SINGAL,CHANDIGARH vs. DCIT, CC-1, CHANDIGARH

penny stock companies as sham transaction undertaken through a syndicate of entry providers, the onus cast on the assessee doubles under section 68

SMT. AARTI SINGAL,CHANDIGARH vs. DCIT, CC-1, CHANDIGARH

penny stock companies as sham transaction undertaken through a syndicate of entry providers, the onus cast on the assessee doubles under section 68

SMT. AARTI SINGAL,CHANDIGARH vs. DCIT, CC-1, CHANDIGARH

penny stock companies as sham transaction undertaken through a syndicate of entry providers, the onus cast on the assessee doubles under section 68

M/S SANJAY SINGAL HUF,CHANDIGARH vs. DCIT, CC-1, CHANDIGARH

Bench: SHRI A.D.JAIN (Vice President), SHRI KRINWANT SAHAY (Accountant Member)

penny stocks ITA 655/CHD/2023 & ITA 610/CHD/2023 A.Y. 2015-16 16 and earning huge Long Term Capital Gain which were not genuine on the face itself. 6.6 The appellant has claimed that it has sold shares of Maa Jagdambe through recognized stock exchange, duly supported with contract notes and shares proceeds were received through banking channel after payment

SANJAY SINGAL,CHANDIGARH vs. DEPUTY COMMISSIONER OF INCOME TAX, CC-1, CHANDIGARH

Bench: SHRI A.D.JAIN (Vice President), SHRI KRINWANT SAHAY (Accountant Member)

penny stocks ITA 655/CHD/2023 & ITA 610/CHD/2023 A.Y. 2015-16 16 and earning huge Long Term Capital Gain which were not genuine on the face itself. 6.6 The appellant has claimed that it has sold shares of Maa Jagdambe through recognized stock exchange, duly supported with contract notes and shares proceeds were received through banking channel after payment

ANIKET SINGAL,NEW DELHI vs. DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1, CHANDIGARH, CHANDIGARH

penny-stock\nprices is a continuing pattern. The appellant assets that such statements were\nneither confronted nor cross-examination offered. Two answers: first, the\naddition here does not rest solely on third-party statements; it rests primarily on\nthe appellant's own failure to discharge the section 68

TARUN JAIN,BATHINDA vs. DCIT, CC-1, LUDHIANA

Bench: Shri Sanjay Garg & Ms. Annapurna Guptaआयकर अपील सं./ Ita Nos. 625 & 626/Chd/2019 "नधा"रण वष" / Assessment Years : 2013-14 & 2014-15 The Dcit, Shri Tarun Jain, बनाम Central Circle-1, C/O M/S Royal Lifestyle Jewellers Chandigarh Pvt Limited, Bhatinda "थायी लेखा सं./Pan No: Ahwpj2158H Appeal Against The Order Of Cit(A)-1, Ludhiana Dated 11.3.2018 अपीलाथ"/Appellant ""यथ"/Respondent

section 10(38) of the Income Tax Act are fulfilled. As such, addition confirmed is unjustified. The same be deleted. 5. That the learned CIT(A) has erred on facts and in law by upholding the addition by following the single member judgement of ITAT, Delhi Bench ignoring two member judgements of ITAT. Delhi Bench and judgements of jurisdictional High

SHRI SANJAY JAIN,BATHINDA vs. DCIT, CC-1, LUDHIANA

Bench: Shri Sanjay Garg & Ms. Annapurna Guptaआयकर अपील सं./ Ita Nos. 625 & 626/Chd/2019 "नधा"रण वष" / Assessment Years : 2013-14 & 2014-15 The Dcit, Shri Tarun Jain, बनाम Central Circle-1, C/O M/S Royal Lifestyle Jewellers Chandigarh Pvt Limited, Bhatinda "थायी लेखा सं./Pan No: Ahwpj2158H Appeal Against The Order Of Cit(A)-1, Ludhiana Dated 11.3.2018 अपीलाथ"/Appellant ""यथ"/Respondent

section 10(38) of the Income Tax Act are fulfilled. As such, addition confirmed is unjustified. The same be deleted. 5. That the learned CIT(A) has erred on facts and in law by upholding the addition by following the single member judgement of ITAT, Delhi Bench ignoring two member judgements of ITAT. Delhi Bench and judgements of jurisdictional High

SANJAY JAIN & SONS,BATHINDA vs. DCIT, CC-1, LUDHIANA

Bench: Shri Sanjay Garg & Ms. Annapurna Guptaआयकर अपील सं./ Ita Nos. 625 & 626/Chd/2019 "नधा"रण वष" / Assessment Years : 2013-14 & 2014-15 The Dcit, Shri Tarun Jain, बनाम Central Circle-1, C/O M/S Royal Lifestyle Jewellers Chandigarh Pvt Limited, Bhatinda "थायी लेखा सं./Pan No: Ahwpj2158H Appeal Against The Order Of Cit(A)-1, Ludhiana Dated 11.3.2018 अपीलाथ"/Appellant ""यथ"/Respondent

section 10(38) of the Income Tax Act are fulfilled. As such, addition confirmed is unjustified. The same be deleted. 5. That the learned CIT(A) has erred on facts and in law by upholding the addition by following the single member judgement of ITAT, Delhi Bench ignoring two member judgements of ITAT. Delhi Bench and judgements of jurisdictional High

SHRI SANJAY JAIN,BATHINDA vs. DCIT, CC-1, LUDHIANA

Bench: Shri Sanjay Garg & Ms. Annapurna Guptaआयकर अपील सं./ Ita Nos. 625 & 626/Chd/2019 "नधा"रण वष" / Assessment Years : 2013-14 & 2014-15 The Dcit, Shri Tarun Jain, बनाम Central Circle-1, C/O M/S Royal Lifestyle Jewellers Chandigarh Pvt Limited, Bhatinda "थायी लेखा सं./Pan No: Ahwpj2158H Appeal Against The Order Of Cit(A)-1, Ludhiana Dated 11.3.2018 अपीलाथ"/Appellant ""यथ"/Respondent

section 10(38) of the Income Tax Act are fulfilled. As such, addition confirmed is unjustified. The same be deleted. 5. That the learned CIT(A) has erred on facts and in law by upholding the addition by following the single member judgement of ITAT, Delhi Bench ignoring two member judgements of ITAT. Delhi Bench and judgements of jurisdictional High

SHRI SANJAY JAIN,BATHINDA vs. DCIT, CC-1, LUDHIANA

Bench: Shri Sanjay Garg & Ms. Annapurna Guptaआयकर अपील सं./ Ita Nos. 625 & 626/Chd/2019 "नधा"रण वष" / Assessment Years : 2013-14 & 2014-15 The Dcit, Shri Tarun Jain, बनाम Central Circle-1, C/O M/S Royal Lifestyle Jewellers Chandigarh Pvt Limited, Bhatinda "थायी लेखा सं./Pan No: Ahwpj2158H Appeal Against The Order Of Cit(A)-1, Ludhiana Dated 11.3.2018 अपीलाथ"/Appellant ""यथ"/Respondent

section 10(38) of the Income Tax Act are fulfilled. As such, addition confirmed is unjustified. The same be deleted. 5. That the learned CIT(A) has erred on facts and in law by upholding the addition by following the single member judgement of ITAT, Delhi Bench ignoring two member judgements of ITAT. Delhi Bench and judgements of jurisdictional High

RAJNI JAIN,BATHINDA vs. DCIT, CC-1, LUDHIANA

Bench: Shri Sanjay Garg & Ms. Annapurna Guptaआयकर अपील सं./ Ita Nos. 625 & 626/Chd/2019 "नधा"रण वष" / Assessment Years : 2013-14 & 2014-15 The Dcit, Shri Tarun Jain, बनाम Central Circle-1, C/O M/S Royal Lifestyle Jewellers Chandigarh Pvt Limited, Bhatinda "थायी लेखा सं./Pan No: Ahwpj2158H Appeal Against The Order Of Cit(A)-1, Ludhiana Dated 11.3.2018 अपीलाथ"/Appellant ""यथ"/Respondent

section 10(38) of the Income Tax Act are fulfilled. As such, addition confirmed is unjustified. The same be deleted. 5. That the learned CIT(A) has erred on facts and in law by upholding the addition by following the single member judgement of ITAT, Delhi Bench ignoring two member judgements of ITAT. Delhi Bench and judgements of jurisdictional High

SHRI SANJAY JAIN,BATHINDA vs. DCIT, CC-1, LUDHIANA

Bench: Shri Sanjay Garg & Ms. Annapurna Guptaआयकर अपील सं./ Ita Nos. 625 & 626/Chd/2019 "नधा"रण वष" / Assessment Years : 2013-14 & 2014-15 The Dcit, Shri Tarun Jain, बनाम Central Circle-1, C/O M/S Royal Lifestyle Jewellers Chandigarh Pvt Limited, Bhatinda "थायी लेखा सं./Pan No: Ahwpj2158H Appeal Against The Order Of Cit(A)-1, Ludhiana Dated 11.3.2018 अपीलाथ"/Appellant ""यथ"/Respondent

section 10(38) of the Income Tax Act are fulfilled. As such, addition confirmed is unjustified. The same be deleted. 5. That the learned CIT(A) has erred on facts and in law by upholding the addition by following the single member judgement of ITAT, Delhi Bench ignoring two member judgements of ITAT. Delhi Bench and judgements of jurisdictional High

AARTI SINGAL,NEW DELHI vs. DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1, CHANDIGARH, CHANDIGARH

In the result, assessee’s appeals are allowed

Bench: SHRI. RAJPAL YADAV (Vice President), SHRI. KRINWANT SAHAY (Accountant Member)

section 68 if any sum is found credited in the books of assessee maintained for any previous year and the assessee offers no explanation about the nature and source thereof or the explanation offered by him is not in the opinion of the AO satisfactory, the sum so credited may be 12 charged to income tax as income